Nikon announced the acquisition of RED, a company that produces high-quality cinema cameras. The cost of the transaction was not disclosed. The statement said RED will become a wholly owned subsidiary of Nikon. RED currently has about 220 employees. At this time, no plans regarding staff reductions have been made public.
RED was founded in 2005 and has established itself as a manufacturer of quality cinema cameras. Its cameras have been used in popular films including Squid Game, Peaky Blinders and Captain Marvel. Nikon now plans to enter this market with its new acquisition. In recent years, Nikon has withdrawn from less profitable areas of the camera market, particularly by stopping the development of new SLR cameras.
This move could benefit both parties, as RED President Jarred Lang shared on Facebook:
“This strategic partnership brings together Nikon's extensive history and experience in product development, imaging know-how, and optical technology and user interface with revolutionary digital cinema cameras and proven RED technologies.”
Earlier, in 2018, RED tried to expand its business scope and enter the smartphone market. However, after short attempts, the company stopped working in this direction.
Interestingly, shortly before the partnership, patent disputes arose between the companies. In 2022, RED sued Nikon, alleging that it knowingly used RED's patented data compression technology in its Z9 camera. Nikon, in turn, argued for the legitimacy of using RED patents. The companies subsequently agreed to a settlement.
Source: Engadget
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